🇰🇷

South Korea

Asia-Pacific

Low Risk

🇰🇷

South Korea

Low Risk

South Korea relies on Middle East for ~72% of crude imports. Rationing measures under discussion.

$2.04

Gasoline /L

+37.8% vs pre-war

112d

Reserves

16 weeks

+12.8%

Food Inflation

Risk: low

99.8%

Oil Imported

Hormuz: direct

Fuel Prices

USD primary · KRW (₩) local

Prices shown per litre. Local currency conversion uses live exchange rates.Data as of Apr 14, 2026

Gasoline

$2.04/L

₩3,025/L

+37.8% vs pre-war

Diesel

$1.92/L

₩2,847/L

+42.2% vs pre-war

LPG / Autogas

$0.98/L

₩1,453/L

Kerosene / Jet A

$1.38/L

₩2,046/L

Pre-war baseline (Feb 2026): Gasoline $1.48/L · Diesel $1.35/L · Current prices are 37.8% above pre-war levels

3-Month Price History

Pre-war baseline

Iran war starts (Feb 2026)

KRW · live rates

Strategic Oil Reserves

112days

16 weeks

3.7 months

ADEQUATE

Source: IEA/EIA

0d30d60d90d180d365d

Energy Dependency Profile

Oil Import Dependency

99.8%

of total oil consumption

Hormuz Exposure

Direct

Strait of Hormuz risk

Food Import Dependency

45%

of food supply imported

Fertilizer & Food Security

Fertilizer Cost Change

+72%

vs pre-war (Feb 2026)

Food Inflation (YoY)

+12.8%

year-on-year CPI food

Food Security Risk

Low

FAO / WFP assessment

Regional Coverage: Asia-Pacific

No articles specifically about South Korea — showing regional coverage

Russia’s Lavrov visits China as US pressures Iran with Hormuz blockade

China and Russia have been vocal critics of the US-Israel war on Iran, an ally of both world powers.

Al Jazeera·4/14/2026

China Cuts Back on Oil and Gas Imports as Prices Surge

China’s natural gas imports dropped sharply in March amid the tanker traffic paralysis in the Middle East. Oil imports also fell on an annual basis, but were up in February. Natural gas imports were down by 11% last month, Bloomberg reported, citing official customs data. At 8.183 million tons, the

OilPrice.com·4/14/2026

NSW promises more fast chargers and electric trucks in revamped EV policy

Premier Chris Minns says policy will help road users save money while making Australia more resilient to future energy shocksFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAnother 1,000 electric vehicle chargers will arrive in New Sou

Guardian Environment·4/14/2026

Oil Traders Bet on Diplomacy Even as Physical Supply Tightens

Oil prices edged lower in early Asian trade on Tuesday, giving up gains from the previous session as hopes of diplomatic progress between the U.S. and Iran tempered fears of a further supply shock. At the time of writing, Brent crude was trading at $98.08, down 1.28% on the day, while West Texas Int

OilPrice.com·4/14/2026

China Has Turned To Central Asia To Mitigate Middle East Oil Supply Risk

The war in Iran has evolved into a global economic crisis, driving up energy prices and forcing major shifts in shipping and trade routes. Ongoing military strikes have caused significant disruptions at critical chokepoints like the Strait of Hormuz, forcing governments to urgently secure alternativ

OilPrice.com·4/13/2026

NSW coalmine given two-year extension despite climate agency warning it jeopardises legislated emissions target

Delta Electricity’s Chain Valley project is the first coalmine development considered by the planning commission since the state enshrined net zero emissions by 2050 in lawFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAn underground

Guardian Environment·4/10/2026

Government Response

Moderate response

Last updated: April 2026

Strategic petroleum reserve release of 10 million barrels approved
Fuel surcharge subsidies for fishing and farming industries
Odd-even vehicle rationing under consideration for major cities
Emergency energy security cabinet committee convened

✈️

Flight Disruption Risk

High

Jet fuel price change+50% vs pre-war

+90 Day Outlook

High

Peak Season (Jul/Aug)

High

View full flight tracker →

Inbound Supply Ships

IntelligenceFull manifest →

●3 Crude Oil●1 LNG●1 LPG●1 Products

KOREA ENERGY

Crude Oil · from Ras Tanura, Saudi Arabia

ETA 3d (17 Apr)

320,000t DWT

KOREA LNG

LNG · from Gladstone, Australia

ETA 5d (19 Apr)

90,000t DWT

INCHEON TRADER

Naphtha · from Singapore, Singapore

ETA 7d (21 Apr)

72,000t DWT

BUSAN PIONEER

Crude Oil · from Basra, Iraq

ETA 8d (22 Apr)

158,000t DWT

KOREA GAS

LPG · from Jubail, Saudi Arabia

ETA 11d (25 Apr)

42,000t DWT

KOREA VLCC

Crude Oil · from Saldanha Bay, South Africa

Rerouted via Cape of Good Hope

ETA 18d (2 May)

298,000t DWT

6 vessels en route

Crisis Summary

Risk LevelLow Risk

Hormuz Exposuredirect

CurrencyKRW (₩)

RegionAsia-Pacific

Data SourcesIEA · EIA · FAO · WFP

Related: Asia-Pacific